Money

The interest rate spread between new deposits and loans increased to 5.60 percentage points in April, as the weighted average interest rate on new deposits remained almost unchanged at 0.25%, while the corresponding rate on new loans increased to 5.85%, the Bank of Greece said on Tuesday.

The local property market stands to reap significant benefits, both short-term and long-term, from a likely credit rating upgrade to investment level for Greece.

Τhe 10-year Greek benchmark bond yield has this week fallen to its lowest levels in 10 months, returning to levels last seen in August 2022. 

Traders said market sentiment remained positive despite comments made by European Central Bank officials over the possibility of fresh interest-rate increases. 

Greek bonds are already trading as though the country has regained investment grade, bank analysts that deal with Greek government debt told Reuters on Friday, with the news agency reporting that investors consider Greece's return to investment-grade credit ratings "a done deal."

Republican People's Party (CHP) leader and Nation Alliance's presidential candidate Kemal Kılıçdaroğlu has pledged the citizens to make regulations in order to ease the burden of credit card debts if he is elected as the president in the May 28 polls.

Greece's main power utility Public Power Corporation (PPC) said on Thursday it had swung to profit in the first quarter on the back of lower energy costs. 

The utility reported net profit of 51 million euros for the January-to-March period versus a loss of €186 million last year. 

As widely expected, Türkiye's Central Bank has once again kept its policy rate - one-week repo auction rate- constant at 8.5 percent. 

Türkiye's Central Bank has decided to keep its policy rate -one-week repo auction rate- unchanged at 8.5 percent.

The Ministry of Finance, banks and funds are discussing changes to the basic terms of the out-of-court settlement, which will lead to the cancellation of debts for more debtors.

A rare ancient Greek coin fetched a record-breaking six million dollars at an auction held on May 19 at the Numismatica Ars Classica auction house in Zurich.

The 2,400-year-old gold stater, minted around 340-25 B.C.E., was bought by a private collector, Artnet Magazine reported.